NEAR Technical Analysis Feb 3

NEAR Protocol is currently hovering near critical support zones at the 1.20$ level and giving an oversold signal with RSI 27 alongside a 3% daily rise. This situation boosts short-term recovery potential while the overall downtrend continues.

Current Price Position and Critical Levels

NEAR is trading around 1.20$ while the dominance of the downtrend in the overall market structure continues. The daily range remained limited between 1.16$ – 1.24$ and volume is at a moderate level of 128.23 million$. The price continues to stay below EMA20 (1.42$), giving a short-term bearish signal; the Supertrend indicator also points to 1.48$ resistance. 13 strong levels were detected across multiple timeframes (1D/3D/1W): 1 support/2 resistances in 1D, 2 supports/3 resistances in 3D, 4 supports/4 resistances confluence in 1W. This confluence strengthens the levels and shows the price is trapped between 1.0910$ support and 1.2140$ resistance. Historically, the price has shown a tendency to accumulate liquidity in this region.

Support Levels: Buyer Zones

Primary Support

The strongest support level stands out at 1.0910$ (strength score: 77/100). This level has formed as an order block region in 1D and 3D timeframes; it has been tested three times in the past and rejected each time with strong buying volume. It also overlaps with the demand zone on the 1W chart, providing confluence with the Fibonacci 0.618 retracement level. The volume profile is concentrated here, an area where institutional buyers accumulate liquidity. If the price reaches here, the probability of a bounce due to oversold RSI (27) is high; however, a breakdown opens the downside target at 0.5214$ (score 22). This level is the main holding point for short-term buyers.

Secondary Support and Stop Levels

Secondary supports at 1.16$ daily low and around 1.00$ 3D demand zone should be monitored. 1.16$ is the swing low tested in the last 24 hours and showed volume increase. As a stop level, an invalidation point at 1.0850$ below 1.0910$ should be set; a break here triggers the lower band of the 1W down channel (0.90$) and disrupts the trend change. These regions are sensitive to liquidity sweeps; big players may use them for stop hunting.

Resistance Levels: Seller Zones

Near-Term Resistances

The first near-term resistance is at 1.2140$ (score 67/100); this level has formed as a 1D supply block and recent daily high. It has been rejected twice, with selling pressure increasing on volume. This must be tested before approaching EMA20 (1.42$); a breakout brings short-term bullish momentum. Pin bar rejection is expected in price action.

Main Resistance and Targets

The main resistance at 1.2975$ (score 60/100) is reinforced by Supertrend at 1.48$. 1.2975$ is a strong supply zone in 3D and 1W timeframes; it has Fibonacci 0.382 extension and past high confluence. Rejected in four tests, low-volume breakouts have failed. Upside target 1.6890$ (score 13); reaching there requires clearing all resistances. R/R ratio: Upside 0.489$ gain / 0.109$ risk = 4.5:1 ideal.

Liquidity Map and Big Players

The liquidity map shows stop clusters below 1.0910$ and buy stops above 1.2140$. Big players (whales) may be accumulating long positions at 1W supports; although volume delta is negative, there is delta divergence. Equal highs/lows between 1.16$-1.24$ form a liquidity trap; reversal is expected after sweep. If BTC dominance rises, NEAR liquidity will be pulled lower.

Bitcoin Correlation

BTC is at 78,808$ level and up 2.6% while the downtrend continues; main supports at 78,671$, 74,604$, 63,235$. Resistances at 79,385$, 83,548$, 87,773$. BTC Supertrend is bearish, risky for altcoins like NEAR; if BTC breaks below 78k, NEAR accelerates to 1.09$. If BTC recovers above 79k, NEAR 1.29$ target activates. Correlation 0.85%; BTC dominance can trigger altcoin-less rally.

Trading Plan and Level-Based Strategy

Level-based outlook: Above 1.2140$ short-term bullish (targets 1.2975$-1.6890$), stop below 1.16$. Holding 1.0910$ is a dip-buy opportunity (R/R 4:1), invalidation 1.0850$. For NEAR Spot Analysis long on support hold, for NEAR Futures Analysis leveraged short on 1.2140$ rejection. This is general market view, not investment advice; risk management is essential. Wait for volume confirmation and MTF confirmation.